A bill of exchange shall include the following particulars:

• a) The statement “bill of exchange” written in the body of the instrument and in the language in which it is issued.

• b) An unconditional order to pay a fixed amount of money.

• c) Name of the obligor (drawee).

• d) Maturity date.

• e) Place of payment.

• f) Name of the payee, whether the bill is payable to bearer or to order;

• g) Date and place of issuance.

• h) Signature of the issuer (drawer).

An instrument that does not include any of the particulars stated in Article 1 shall not be deemed a bill of exchange except in the following cases:

• a) If a bill does not include a maturity date, it shall be deemed payable at sight.

• b) If a bill does not include a place of payment or the drawee’s domicile, the place indicated next to the drawee’s name shall be deemed both the place of payment and the drawee’s domicile.

• c) If a bill does not include the place of issuance, it shall be deemed issued in the place indicated next to the drawer’s name.

A bill of exchange may be drawn to the order of the drawer or the order of another person, and may be drawn on the drawer’s account.

A bill of exchange may stipulate that payment be made in the domicile of a person other than the drawee, whether such domicile is in the place where the drawee’s domicile is located or elsewhere.

If the amount of the bill of exchange is written both in words and in figures, the amount written in words shall prevail in case of a discrepancy; if the amount is written multiple times in words or figures, the lesser amount shall prevail in case of a discrepancy.

Stipulating interest in a bill of exchange shall render the bill null and void.

The competence of an obligor to pay a bill of exchange shall be governed by the law of his country of residence. For Saudi nationals, the age of competence is 18.

If a person is deemed incompetent under the law in force in his country, his obligation under the bill shall remain valid if he signs it in the territory of a country where he is deemed competent under its law.

The obligations of minors who are not merchants and the obligations of incompetent persons which arise from their signatures on the bill of exchange shall be invalid; such invalidity may be invoked against holders of the bill, including bona fide holders.